Two Indian companies to buy Iranian oil in November: Dharmendra Pradhan

Despite the fact that India does not know
for certain whether it will be granted a waiver from US sanctions on Iran, two
Indian companies have placed orders to purchase Iranian crude in November,
Petroleum Minister Dharmendra Pradhan said.

On Friday, news agency PTI had quoted
sources to report Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals
Ltd (MRPL) have contracted 1.25 million tonnes of Iranian oil for import in
November.

According to the sources India and Iran
are discussing rupee payments and Iran can use rupee for paying for imports of
medicines and other commodities. Details of the payment mechanism would emerge
in the next few weeks, a source said.